Steven Rider CPA, Author at Rider Accountants & Mortgage Brokers

Housing Property Accounting Property Capital Gains Tax

Property inheritance and capital gains taxProperty inheritance and capital gains tax

22/04/2024 Steven Rider CPA 0 Comments

Property inheritance is the transfer of property to an heir or beneficiary upon the death of an owner. There are various tax implications triggered when inheriting an investment property, particularly where capital gains tax (CGT) is concerned. In the instance that an inherited property is sold immediately, the tax implications{...}

Housing Property Capital Gains Tax

Property renovators could be taxed up to 47pc under new rulesProperty renovators could be taxed up to 47pc under new rules

22/04/2024 Steven Rider CPA 0 Comments

Property renovators and “flippers” who buy and sell for a quick profit could be taxed at their highest marginal rate of up to 47 per cent when selling houses after an Administrative Appeals Tribunal decision, lawyers say. This would also mean losing their capital gains tax discount of 50 per{...}

Property Accounting Property Capital Gains Tax Property Rental

Common tax traps for residential rental properties Common tax traps for residential rental properties

22/04/2024 Steven Rider CPA 0 Comments

Getting claims right is more important than ever with the ATO’s increased focus on residential rental properties. • 11 April 2024 • Steven P. Rider CPA As we approach the end of the income year, this is an ideal time to look at the traps that can trip up agents when preparing{...}

Housing Property Accounting

GST May be Applicable on Property TransactionGST May be Applicable on Property Transaction

22/11/2023 Steven Rider CPA 0 Comments

GST at settlement may apply when buying or selling new residential premises or potential residential land. If your income making activities includes selling property and they make $75,000 or more in a year, even if it’s from a one-off property transaction, you need to register for GST. Once you are registered,{...}

Property Accounting

Tax Deductions for Vacant LandTax Deductions for Vacant Land

25/10/2023 Steven Rider CPA 0 Comments

The ATO has released Taxation Ruling TR 2023/3 setting out the Commissioner’s views in relation to the application of s. 26-102 of the ITAA 1997 which limits the deductions available for expenses incurred in relation to holding vacant land. The Ruling was previously issued in draft as TR 2021/D5. How s. 26-102 operates A loss or{...}

Airbnb Housing

Airbnb is an issue in the Sydney Rental MarketAirbnb is an issue in the Sydney Rental Market

20/09/2023 Steven Rider CPA 0 Comments

Prime Minister Anthony Albanese says it is unsurprising state governments are concerned about the explosion of short-stay accommodation and its effects on the supply of rental properties. Asked whether he supported Victoria’s potential levy on short-stay accommodation providers such as Airbnb and Stayz, Albanese said he hadn’t seen a specific{...}

Housing

Airbnb and Victoria Locked in a BattleAirbnb and Victoria Locked in a Battle

20/09/2023 Steven Rider CPA 0 Comments

Airbnb Australia warns Victorian Premier Daniel Andrews’ claim that 40,000 homes would become available for longer-term rent in Victoria if his government introduces the first statewide levy on short stay accommodation do not stack up. Mr Andrews gave his strongest hint yet on Monday that Victorians will be hit with an Airbnb{...}

Housing

500,000 tradies needed!500,000 tradies needed!

12/09/2023 Steven Rider CPA 0 Comments

500,000 more tradies needed to meet 1.2m housing target Campbell Kwan AFR Australia will need 500,000 new tradies over the next five years if it is to reach the federal government’s target of 1.2 million new homes over that period. “We will need around 500,000 entrances into the industry for{...}

Property Accounting

Can your lunch at work be tax deductible?Can your lunch at work be tax deductible?

07/08/2023 Steven Rider CPA 0 Comments

When it comes to fringe benefits tax, one of the exemptions is meals. Food and/or drink provided by an employer (must be a company or trust) to employees is often FBT exempt. This means that the company can claim a deduction for it in certain circumstances. These circumstances are: that{...}

Property Accounting

2023 Income Tax – What’s new for individuals2023 Income Tax – What’s new for individuals

27/07/2023 Steven Rider CPA 0 Comments

Before you complete your tax return for 2022–23, find out what’s new and any changes that may affect you. On this page Working from home deduction changes The fixed rate method for calculating your deduction for working from home expenses has been revised. The revised fixed rate method allows you to claim{...}

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